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ira [324]
3 years ago
6

Sheffield Corp. uses the composite method and its composite rate is 7.5% per year, what entry should it make when plant assets t

hat originally cost $134000?
Business
1 answer:
muminat3 years ago
8 0

Answer:

$ 142 375

Explanation:

Thinking process:

Let the composite rate be given by the formula:

A = P (1+\frac{r}{n})^{nt}

where

A = amount after interest

\frac{r}{n} = interest rate

t = time

n = number of times (per year)

Therefore, this gives:

A =134 000 (1+\frac{0.75}{12})^{1}\\   = $ 142 375

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as a percentage, by how much will galoshes r' us change their use of labor if wages fall by 23.4#.4% ? enter a negative percenta
Luda [366]

Galoshes increase their labor by 85.8% if there is a decrease in 37.4% in wages using elasticity of labor.

Elasticity of labor is defined as the percentage change in demand for labor to percentage change in demand for labor to percentage change in wage rate.

Elasticity of labor= % demand of labor/% change in wage rate

Let % wage decrease be x
Δ demand for labor =L
i) Galorhes R = ΔL/-Δx = -2.3
ii) Emerson R = ΔL/-ΔX= -3.2
III) Wayne= ΔL/-ΔX= 1.7
iv) Bull stearns = ΔL/-Δx= 4.6

Therefore, emerson,lake and palmer increases the amounts
Hence 2nd option
2) Galorhes R= ΔL--37.3=-2.3
                     = 37.3× 2.3
                    = 85.79%
For more information on elasticity of labor visit:
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8 0
1 year ago
When the price of gasoline​ rises, some consumers begin riding their bikes more frequently or riding the bus instead of drivin
NeTakaya

CPI does not fully account for such changes in consumer behavior is called

substitution bias

Explanation:

  • When the price of gasoline rises, some consumers begin riding their bikes more frequently or riding the bus instead of driving their cars. The fact that the CPI does not fully account for such changes in consumer behavior is called substitution bias
  • Substitution bias describes a possible bias in economic index numbers
  • If the consumer behavior  do not incorporate data on consumer expenditures going from relatively more expensive products to cheaper ones as prices will change.
  • Substitution bias is the price of a products when the consumer basket increases substantially, consumers tend to substitute lesser priced alternatives.
  • Substitution bias is a genuine problem with a price index. Consumers can substitute goods in response to price changes.
7 0
3 years ago
Stone Furniture Store has credit sales of $400,000 in 2008 and a debit balance of $600 in the Allowance for Doubtful Accounts at
AlekseyPX

Answer:

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3 0
3 years ago
How would a company report a change in an accounting principle made on the last day of the third quarter?
aniked [119]

If a company changes an accounting principle on the last day of the 3rd quarter they need to apply a retrospective application to all pre-change interim periods reported.

<h3><u>What is accounting?</u></h3>
  • Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
  • A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting. They provide a succinct summary of financial transactions across an accounting period.
  • One of the most important aspects of practically every firm is accounting. Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people.

Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.

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8 0
2 years ago
Tobin inherited 100 acres of land on the death of his father in 2020. A Federal estate tax return was filed and the land was val
antiseptic1488 [7]

Answer:

$300,000

Explanation:

From the above passage, the information given is that the land was valued at $300,000 which is the fair market value price as at when Tobin's father died. What this means is that the amount of $300,000 will be Tobi's basis in the land although the land was purchased by his father at the cost of $19,000 in 1970.

Since the federal estate tax return was filed, and the value of the land was $300,000, hence his basis(Tobin) in the land would be $300,000

8 0
2 years ago
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